Macau-based electronic gaming equipment distributor Asia Pioneer Entertainment (APE) booked a 361% increase in net profit to HK$20.7 million for the year ended 31 December 2018, buoyed by increasing business across Southeast Asia.
Revenue of the group grew 27% year-on-year to HK$109.6 million, including HK$65.6 million from the technical sales and distribution of EGEs, HK$3.7 million from the sale of spare parts, HK$8.5 million from consultancy and technical services and HK$2.5 million from the sales of refurbished EGMs.
While APE’s largest segment – technical sales and distribution – saw a 10% decline on 2017 numbers, the final revenue figure was boosted significantly by two lease sales made in Cambodia and the Philippines totaling HK$30.4 million, the company said.
It also noted that Southeast Asia would continue to present the key growth opportunities in 2019, stating those markets “are growing quicker than Macau SAR.
“In particular, Suncity’s new casino opening in Hoi An in Vietnam and growth in new casino resorts in the Philippines and Cambodia have potential to bring new business to the group,” APE added.
“In Macau SAR, which continues to be the core market for the group, there will be the opening of two new planned casinos, namely Grand Lisboa Palace and Lisboeta both in Cotai, which can bring new revenue opportunities to the group.”